Consumer finance company Home Credit Philippines Inc. has launched a campaign to bring hope to Filipinos during the pandemic and teach the public basic financial literacy.
The company, which entered the country nine years ago by funding cellphones for regular consumers, said the campaign was part of the company’s goal of financial inclusion for more Filipinos.
“Through the campaign, we definitely want to build a stronger relationship with our customers, make them emotionally connected with us, and show them that we can be their financial ally in many aspects of their lives,” Sheila Paul, Chief Marketing Officer of Home Credit. , said.
“The campaign gave the brand a face and a feeling. It also allowed over 13,000 employees to show them that they themselves could be brand ambassadors,” added Paul. “We really wanted to give them something to be proud of and show the world the effort they’ve put in.”
Home Credit, which also provides personal loans, said it continues to find new opportunities to expand its online and offline services by partnering with more brands and retailers in key categories such as healthcare, fashion, beauty and fitness.
“Building on Home Credit’s heritage of providing a wide range of financial products and services, Home Credit Philippines has enabled nearly 9 million Filipinos nationwide to access financial opportunities. credit. As the needs of our consumers continue to evolve, we are committed to supporting them as we build a more financially resilient Philippines,” said company CEO David Minol.
Home Credit has disbursed over 178 billion pesos in loans to Filipinos across all segments, including services, education and healthcare. Now, most of its transactions are done through its smartphone app but only available on Android phones.
Expansion
HOME Credit has expanded its network to 10,000 retail partners nationwide, aggressively growing its online presence and forging partnerships with the country’s biggest brands.
The company then focused on promoting financial literacy, as part of its environmental, social and governance programs.
As a result, Home Credit concluded its first-ever ESG-related credit facility with Deutsche Bank in December last year for 1.2 billion pesos. This facility provided women and new borrowers with expanded access to credit and supported financial education programs in the country. He also supported the company’s digitization efforts, which later enabled Home Credit to deliver 60% of its loan through digital channels.
In May this year, Home Credit launched a 420 million peso social finance facility, which was recently increased to 820 million pesos, with foreign bank Citi. This facility has helped Home Credit customers purchase basic digital devices, with half of the loan going to women, who make up 50% of Home Credit customers.
The company has also entered into a two-year 7 billion peso credit facility with UnionBank to provide full financial access to more Filipinos. The agreement enables Home Credit to provide more Filipinos with financial accessibility and inclusion through the brand’s intuitive and affordable loan products.
“We enable Filipinos to live the life they want to live now by expanding their access to responsible finance, championing financial literacy and empowerment, and promoting innovation and digital inclusion,” said Zdenek Jankovsky. , director and treasurer of Home Credit.
“Sustainability and responsible business have always been an integral part of Home Credit’s approach. By giving everyone the opportunity to access financial services, including those who are underserved, we help people improve their quality of life,” he said.